Jay Foley
Ghanaian media personality, Jay Foley, has joined others in speaking out against the high price rates in the country amidst low exchange rates.
According to him, Ghanaian traders are still shelling out big bucks for goods despite the cedi’s recent gains against the dollar.
The renowned broadcaster was heard lamenting on the attitude of traders making excessive profit from increased prices of goods.
In a recorded video shared on Facebook and sighted by BEATWAVES, Jay Foley said, “Charlie it looks like no matter how low the dollar comes, prices of goods and services are still not going to change. I mean the dollar has come as low as GH¢10 l think or there about, go and ask for the price of a car or rent a place and they quote in dollars, and it is still high. Forget, Charlie, boys they hold the cedis by the neck (sic).”
Under the post, many expressed mixed views on Jay Foley’s rants, with Chem Pe Dee saying, “Jay has suddenly found his voice hmm, have you bought iron rods lately??? There’s been a huge reduction.”
Bright Torku also added, “The way you are looking at it is not the way it works. The reduction has to be sustainable over a period… before prices can change… e.g. if you import a car at a dollar rate of say 14 and in a few months’ time it reduces to 10… Do you think it will make sense to reduce the price of the car?”
Alhassan Tahiru also stated, “Bro., prices of cars reduced drastically, import charges reduced, international prices including school fees reduced paaaa, I literally paid 1/3 of what I should have paid a couple of months back. Yea, local markets tend to respond slowly, but I think eventually it does over time.”
By Prince Fiifi Yorke